Supply a major concern for investors
David Lai, a portfolio manager at Aberdeen Asset Management, gives us his views on the debt capital markets in Asia this year.
WhatÆs your outlook for 2008
The general market concern right now is the huge new issuance pipeline. Last year many new issues were postponed, especially in high-yield. Whether this pipeline will materialise is uncertain, because if the market remains volatile, these issuers can explore other alternatives such as the loan or bank market, both onshore and offshore, do private placements or reschedule their capex.
The issuers likely to come to market are the Indian and Korean banks, who will continue...
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